text:
The company famous for delivering storybook endings is hoping to deliver one to its shareholders this week. Walt Disney (DIS 2.84%) reports financial results for its fiscal third quarter on Wednesday, and investors can use some good news. Disney shares are down 31% this year, making it the worst performer among them Dow Jones Industrial Average (^DJI 0.07%) components in 2022.
There are naturally a lot of moving parts to the media giant’s empire. Disney’s not firing on all cylinders these days, but it could show just enough this week to win back the market’s respect. Let’s take a closer look at how the House of Mouse is holding up heading into Wednesday afternoon’s telltale report.
When you wish upon a chart
At first glance, expectations would seem to be high for this week’s financial update. Analysts are modeling $2.49 billion in revenue for the fiscal third quarter, a 20% jump from where it landed last year. Bottom-line forecasts are even more robust, as Wall Street pros are targeting adjusted earnings per share to climb 45% to $1 a share.
Disney doesn’t typically sport this kind of heady growth, but we’re lapping depressed results from a year earlier. The original Disneyland theme park in California wasn’t even open at the start of last year’s fiscal third quarter. Now Disney’s domestic gated attractions are booming. Disney+ keeps gaining subscribers. Your local multiplex is busy again.
There are headwinds, of course. Media networks are a big part of Disney, with ABC, Disney Channel, and its majority-owned ESPN juggernaut. Folks are cutting the cord from costly cable and satellite television plans where Disney is a top receiver of carriage rights payments. The economic downturn is starting to cool ad spending, another major part of the media networks model. On the theatrical release front, folks are going back to the movies, but one of Disney’s most anticipated releases of the fiscal third quarter — Lightyear — fell well short of box office expectations.
The rising US dollar is also going to take a toll. A lot of its Disney+ growth lately has come from overseas. Disney also owns its theme park resort in Paris and sizable minority stakes for its attractions in Hong Kong and Shanghai. Those transactions will bear the brunt of the stronger dollar, and that’s before considering that the currency movements are making it harder for international visitors to check out Disney’s domestic parks just after restrictions were eased earlier this year.
Gas prices are on the rise, weighing on domestic visitors. We’ve also seen spending shift to food and other essentials, and that could ding all of Disney’s businesses. Analysts are adjusting for the new normal. Just a week ago Wall Street pros were projecting $2.6 billion in revenue, but the profit target remains intact. With a wide array of interests and entertainment niches where it’s a leading tastemaker, Disney is a widely followed media stock. A lot of investors — not just mouse-eared Disney ones — will be watching Wednesday afternoon’s report.
Rick Munarriz has positions in Walt Disney. The Motley Fool has positions in and recommends Walt Disney. The Motley Fool recommends the following options: long January 2024 $145 calls on Walt Disney and short January 2024 $155 calls on Walt Disney. The Motley Fool has a disclosure policy.


text:
The music platform Spotify launches in-app purchases for podcasts. Creators can now have the power to create exclusive content only for paid users. This move will strengthen the earning of people.
Why does spotify subscription for podcasts matter?
Earlier this week, the tech giant Apple has also launched exclusive podcasts where users can avail themselves of the paid content. So to maintain its listener Spotify added a subscription. This feature would roll in the USA, first gradually proceeding to other countries.
Most podcasts creators hesitate to share their work without costs. And to encourage more podcasters, big companies like Spotify should come forward. The podcast industry is growing day by day and to bring some more people on these platforms paid version is the best option.
The paid version pricing of podcasts
Monetization of streaming apps features such as podcasts is a tricky process. Investments are more plus the revenue is not too much to cover all the expenses. Many apps like Apple podcast and Spotify are gambling to gain more revenues in the form of subscriptions. For instance, Spotify has invested $235 million in advertising and marketing tools.
Spotify plans to keeps the subscription amount as low as possible. The starting amount to be paid will be up to $2.99, $4.99, or $7.99.
The new subscription-based episode will have the padlock sign to tell the users that they have to pay the charges to listen further. Creators will have the freedom to choose whichever episode they want them to pay.
How will it work?
New paid episodes will be powered by Anchor, which is a Spotify podcast creator platform. Users can mark all the episodes as paid, or they can exempt some according to their needs. For two years, podcasters can earn 100% revenue from their channel, which excludes the transaction fees. But after that, Spotify plans to charge 5% as the monetization fees from the creator. Over the past year, there has been an increase in several podcast creators. Spotify has revealed that its revenue has increased from 700,000 in Q4 2019 to 2.2 million in Q4 2020.

domain: news


text:
Source: Bloomberg – Dealers Driving Mercedes Hail Zimbabwe Dollar’s Demise
Benson Mahenya makes as much as $10,000 a month as he drives around Harare in a white Mercedes- Benz dealing in the five currencies that Zimbabwe recognizes as legal tender.
Selling South African rand to Harare’s car-part dealers, he receives dollars in return and uses them to buy euros from the city’s hotels. He then sells the European currency to liquor stores so they can import French and Portuguese wine.
“Different customers want different currencies, depending on the business they’re in,” Mahenya, 46, said in an interview in Harare last month. “On a good month I make an excellent living.”
Mahenya, and traders like him, have sprung up since Finance Minister Tendai Biti abandoned the Zimbabwe dollar in 2009 following hyperinflation that the International Monetary Fund estimates hit 500 billion percent. Under Biti, Zimbabwe stopped printing money and adopted the U.S. dollar, the euro, the South African rand, the Botswana pula and the British pound as legal currencies.
While the country is still mired in political crisis 33 years into President Robert Mugabe’s rule, the move helped end an economic collapse that decimated the country’s tobacco and rose export industries and shrank the economy by 40 percent between 2000 and 2007, according to an IMF estimate.
It also created huge arbitrage opportunities for a new breed of currency trader.
“I’ll always better the banks,” says Jackson Jere, sitting on a wooden crate as he haggles with customers ranging from shop owners to tourists at Harare’s Road Port international bus terminus.
“Until recently we were using old Zimbabwe dollar notes, even though they weren’t legal tender. It was like a voucher or ticket system,” Mike Muparutsa, a minibus taxi-driver, said. “Now it’s rand coins, but the consumer loses on the exchange rate.”
The currency reform has brought some semblance of stability to a country bearing the scars of Mugabe’s economic mismanagement. Zimbabwe’s central bank began printing money in 2006 to pay a debt to the IMF to stave off expulsion and continued the practice to meet expenses including infrastructure payments.
“Having a multi-currency economy with no Zimbabwe dollars is primarily good news for Zimbabwe because government can’t print its way out of a deficit,” said John Robertson, an independent economist, in an interview from Harare. “They can’t just print more if they need it, as was happening in 2008.”
The economy is expanding and most shortages have abated. Economic growth of 5 percent is being targeted this year, Biti told reporters in Harare on April 16. Biti and Tsvangirai have said a return to the Zimbabwe dollar isn’t likely soon.


text:
Jordan Brand Extend their Flight Utility Collection with the Air Latitude 720
Jordan Brand’s lifestyle-focused Flight Utility Collection has opened up an entirely new market for the Jumpman Brand. While their retro department is now whole-heartedly lifestyle-focused, demand has shifted to the use of modern designs and tech — and that’s exactly what Jordan has achieved with this new range. Joining the already-intriguing Protro-Max, Protro-React, and Apex-Utility is the Air Latitude, which draws clear inspiration from the Air Unlimited and Air Jordan 8. But while Jumpman has looked to the past, their focus is still on the future. The use of sleek lines, ultra-light woven uppers, and other new materials, as well as Nike’s biggest and comfiest Air unit to date, has set this, and the entire Flight Utility Range, in a class of its own.
The two debut colorways – a triple black and a women’s Aqua influenced palette (similar to the recently previewed Air Jordan 8) – are set to drop on June 6th.


text:
Contaminant Found in Second Pet Food Ingredient
FDA is investigating an imported shipment of rice protein concentrate that has been found to contain melamine. The rice protein concentrate may have been used as an ingredient in some pet foods. Melamine is the same industrial chemical that was found in wheat gluten imported from China and used in pet food made by Menu Foods, which recalled 60 million cans and pouches of dog and cat food in mid-March of 2007.
Specialists at FDA headquarters and in 8 FDA district offices are investigating the rice protein. So far, FDA has established the following:
- The suspect shipment of rice protein concentrate was imported and offloaded during the week of April 2, 2007, by San Francisco-based Wilbur-Ellis, an importer and distributor of agricultural products, including rice protein concentrate. The source of the product is identified as Binzhou Futian Biological Technology in China.
- The shipment consisted primarily of rice protein concentrate in white bags, but also included one pink bag that was labeled, in part, with the word "melamine."
- On April 15, 2007, Wilbur-Ellis notified FDA's Center for Veterinary Medicine about the suspect shipment. On April 16, FDA launched a nationwide investigation tracing 8 import entries identified as being shipped from the Chinese firm since July 2006. FDA testing revealed melamine in both the white and pink bags.
- Wilbur-Ellis has initiated a recall of all suspect rice protein concentrate it had imported and distributed. See Wilbur-Ellis' press release.
FDA investigators have obtained records showing distribution of the rice protein concentrate to 5 pet food manufacturers in 7 locations. Investigators are currently inspecting all 5 manufacturers and collecting additional samples for testing.
- FDA initiated inspections at pet food manufacturers Royal Canin USA and C.J. Foods.
- Both companies have voluntarily recalled certain products. See Royal Canin's press release and Blue Buffalo's press release.
- FDA also has confirmed the presence of melamine in pet food products containing rice protein concentrate currently under voluntary recall by Natural Balance Pet Foods. The foods are: Venison and Brown Rice canned and bagged dog foods; Venison and Brown Rice dog treats; and Venison and Green Pea dry cat food. See Natural Balance's press release.
In a related development, the California Department of Food and Agriculture (CDFA) issued a press release on April 19, 2007, stating that its laboratory testing had detected melamine in urine from hogs at the American Hog Farm in Ceres, Calif. Due to the involvement of animal feed, FDA is working with CDFA on this development.
FDA continues to work comprehensively to protect the nation's pet food, as well as to conduct a full investigation to determine any impact on the human food supply. The agency is now sampling all rice protein concentrate from China and continues to sample all wheat gluten imported from China. The agency is ready to increase its surveillance of other products if necessary.
This article appears on FDA's Consumer Health Information Web page, which features the latest on all FDA-regulated products.
Date Posted: April 23, 2007


text:
China Prepares to Raise Status of Anti-Trust Bureau
- October 14, 2021
- Posted by: Quatro Strategies
- Category: Legislation
China plans to raise the status of its anti-trust agency to better challenge anti-competitive behavior. With President Xi Jinping’s push, the State Administration for Market Regulation (SAMR) has fined firms, particularly the online platforms, for breaching the competition rules.
The Chinese Government considers elevating the status of the anti trust bureau, which will become the National Antimonopoly Bureau, and stay within the SAMR. The new agency will be raised to deputy ministerial status. The new status will help the bureau to gain resources investigating M&As.
The new proposal also offers opportunity to SAMR to conduct its own research, which it had to outsource before.
The proposal will still need the approval of China’s State Council as well as the National People’s Congress.
President Xi said last March that China should strengthen its antitrust powers to properly challenge the monopolistic behavior of big corporations. China took European antitrust regulations as a model and invited antitrust officials from the EU and the US in August to hold seminars for Chinese antitrust staff.
Until this year, China’s antitrust regulations were relatively loose. This year’s $2.75 billion fine on Alibaba Group for abusing market dominance has been a turning point. The country’s food delivery market leader Meituan was fined this month for $527 million also for abusing its market position.
Get your daily Business Brief
Business Brief delivers the latest insights straight to your inbox
You'll get daily industry insights on
Energy, Cleantech, Oil & Gas, Mining, Defense, Aviation, Construction, Transportation, Online Retail, Bigtech, Finance and Politics of Business


text:
GDP: US Economy Grew at 2 Percent in 3rd Quarter
The nation's economy continued to expand in the third quarter, rising at a better-than-expected annualized rate of 2 percent, the Commerce Department said this morning.
The Gross Domestic Product numbers are preliminary and will be adjusted but economists had expected a rate of 1.8 percent for the period. GDP rose at a 1.3 percent rate in the second quarter. It's the first back-to-back quarters 2 percent or lower since the U.S. began emerging from recession in 2009.
"Strong GDP growth in the second half of this year is important given the pending government spending cuts in 2013 and the continued need for new job creation. Unemployment figures remain relatively high, at 7.8 percent, and private company sales growth has slowed in 2012 from 2011, indicating that there are still mixed signals for the health of the U.S. economy," said Brian Hamilton, CEO of Sageworks and an expert on privately held companies.
Growth has been sporadic since the recession officially ended in 2009, mostly hovering at the 2-3 percent level, not enough, say economists, to bring down joblessness to where it was before the economic meltdown took full hold in 2007-2008. After 43 straight months above 8 percent, unemployment dropped to 7.8 percent last month.
The signs for the economy are mostly going in the right direction. Housing is recovering, with new home sales up 27 percent last month from a year earlier and existing home sales at their best rate since the 2008. Consumer purchases rose at a 2 percent annual rate, from 1.5 percent in the previous quarter, led by the best car sales since 2008.
But businesses are cutting back again over worries about the debt crisis in Europe and the looming "fiscal cliff" in the US. Come Jan. 1, unless steps are taken by Congress and the president, automatic budget cuts are set to take place and tax cuts, as well as a temporary cut in the payroll tax, will expire creating a new drag on the economy.


text:
Construction of the planned King Walmart store may not start until early 2016, according to King Director of Planning and Inspections Todd Cox.
“The biggest delay has been the state and getting the soil and water erosion control permit,” said Cox, noting that the engineers for the project told him they had just gotten that required permit at the end of May. “It has taken six to eight weeks longer than it should have.”
Cox said engineers would now start the bidding process for grading the property.
“They hope that work will start this month,” said Cox. “Once the grading is done then the construction will start in the early winter or the first of the year.”
The project has faced a number of delays since city officials first learned that Walmart was interested in building a store in King.
Officials first confirmed the company was interested in the area in December 2013 and an initial public hearing for rezoning was scheduled for February 2014. That hearing was postponed several times, as Walmart worked out permitting with U.S. Corps of Engineers, before the city finally approved the rezoning request in December 2014.
Officials had initially hoped that construction on the new store would begin this spring with expectations that it may open before this year’s Christmas season.
Both King and Stokes County stand to gain considerable sales tax revenue increases when the store opens.
Cox said the proposed Walmart was estimated to provide an additional property tax revenue of $42,200 to $50,640 for King and $65,000 to $78,000 to the county each year. Estimated sales tax revenue for King would range from $59,000 to $74,000 each year for the city and $728,000 to $910,000 each year for the county. Cox said the store would also generate an estimated $2,200 in water fees and $3,900 in sewer fees each year.
The King City Council included funding in its 2015-16 budget to add an additional position to its police force starting in January 2016 to help handle expected additional calls the store may generate.
City Manager Homer Dearmin said the council would reevaluate the timing for the need for the position in January.
Nicholas Elmes may be reached at 336-591-8191 or on Twitter @NicholasElmes.


text:
Warner Bros. has announced the release of Middle Earth: Shadow of War, the sequel to the critically-acclaimed Middle Earth: Shadow of Mordor, winner of more than 50 industry awards, including 2015 Game Developers Choice Awards’ Game of the Year, Outstanding Innovation in Gaming at the 2015 D.I.C.E. 388 more words
Tags » Lord Of The Rings
Warner Bros. Interactive Entertainment and Monolith Productions have officially announced Middle-earth: Shadow of War today. The sequel to Shadow of Mordor, Shadow of War takes place directly following the first title and will expand on the popular “Nemesis System.” 132 more words
Don’t give #OscarFail too much grief. While it was certainly the most prominent botched announcement that took place, it wasn’t the only one.
Yesterday, Target accidentally posted some information about the new 275 more words
After being accidentally leaked by Target over the weekend, Playstation has announced that the highly-regarded “Middle-Earth: Shadow of Mordor” is getting a sequel on August 22 titled “Shadow of War”. 108 more words


text:
To that end, Tesla has revealed that it expects $400 million to $440 million in full-year revenue, or roughly $160 million less than its prior 2012 revenue forecasts. In a Securities and Exchange Commission filing on Monday, the electric carmaker said "We have methodically increased our Model S production at a slower rate than we had earlier anticipated," leading to the company figuring they'll fall short of the $560 million to $600 million they originally forecasted. Tesla also revealed a net cumulative loss of $864.9 million through June 30 of this year – Tesla has yet to break even as an automaking entity, but it remains something of a startup, so the fact that it has lost money to this point shouldn't be a major surprise – building cars is expensive, and learning how to do so is even more expensive. Following the disclosure, Tesla shares fell about 8.5 percent this morning in trading.
Tesla cites delays in suppliers for its Model S production shortcomings. The California automaker says it is working with suppliers to speed up deliveries and internally, it is adding shifts and automation to its manufacturing processes. With little more than half of the 5,000-vehicle target expected to be built by year's end, Tesla says it is four to five weeks behind its delivery goals.
Meanwhile, reservations are on the rise. 11,500 Model S units were spoken for at the end of June, and that number has risen to 13,000 as of September 23 (not counting vehicles already delivered). While reservations increased, so did cancelations.
The first several thousand reserved customers were asked to configure their vehicles for delivery, lest they lose their places in line.


text:
Best Buy will host 318 "Play it Early" access events at select stores across the U.S. In addition, the retailer will open early at more than 900 locations. Best Buy is also offering a free smartphone to customers who purchase the Call of Duty Premium Elite membership and a limited edition case in addition to the game.
“Walmart is the destination for all gamers this holiday season,” says Seong Ohm, senior vice president of entertainment, Walmart U.S. “When it comes to entertainment, Walmart offers unbelievable prices on the widest assortment of gaming devices from brand name consoles to new releases.”
"Best Buy is the one-stop shop for fans of the Modern Warfare series, and we're thrilled
Subscribe and receive the latest news from the industry.
Join 62,000+ members. Yes, it’s completely free.


text:
If you’re looking to enjoy the local nightlife in the District, Metro is rolling out some cost-saving fares starting Monday.
Metrorail’s weeknight $2 flat fare per one-way trip begins at 9:30 p.m.
This adds to the $2 flat fare the transit agency has already established for all weekend Metrorail customers.
It’s also selling lower-priced unlimited Metrorail and Metrobus monthly passes, which are good for travel starting Friday.
Prices for these unlimited passes depend on distance traveled, and are now based on 32 trips a month, down from 36. After monthly unlimited pass holders reach the 32 mark, trips are free for the rest of the month.
“As gas prices remain high and people continue to increase travel and commute to work more often, lowering the price of unlimited passes makes Metrorail and Metrobus an even more attractive option for work and pleasure travel throughout the region,” Metro Board Chair Paul C. Smedberg said in a news release.
The cost range for unlimited passes used to be between $72 and $216, but the new range is between $64 and $192 a month.
Metro says these reduced pass prices are meant to provide savings for customers who may no longer have a five-day commute.


text:
SINGAPORE: All food establishments that are licensed to provide catering services must have closed-circuit televisions cameras (CCTVs) installed from the first quarter of 2022, announced Minister for Environment and Water Resources Masagos Zulkifli on Wednesday (Mar 4).
“SFA (Singapore Food Agency) will be introducing new measures to safeguard food safety. Premises which pose higher food safety risks, such as caterers and central kitchens, will be required to install Closed-Circuit Televisions Cameras,” said Mr Masagos during the Committee of Supply debate.
“This enables them to monitor food safety performance and provide evidence in the event of food safety allegations.”
SFA conducted more than 5,200 inspections in 2019, and took more than 1,600 enforcement actions against errant operators, he added.
READ: Eating Spize bento meal hours after preparation may have led to SATS officer’s death, coroner’s court hears
The CCTVs will allow the food establishments to better monitor their operations and shape good behaviour among food handlers to comply with food safety and hygiene regulations, said SFA in a separate media release.
In the event of a gastroenteritis outbreak, SFA will request for CCTV footage from the implicated food establishments to facilitate investigations, said the agency.
According to SFA, about 1,000 existing food establishments, including caterers and central kitchens, will need to meet this requirement. New and existing establishments will have to submit their CCTV plans for their licence to be approved or renewed.
In light of the recent spate of gastroenteritis outbreaks, food establishments catering to vulnerable groups like pre-schools and nursing homes will have to retain samples of the food they provide, said Mr Masagos.
READ: 59 residents at welfare homes in Buangkok fall ill with gastroenteritis
READ: 222 affected by gastroenteritis outbreak across 12 PCF Sparkletots centres
This “will facilitate investigations during foodborne outbreaks”.
INTEGRATED LICENSING AND RECOGNITION
Mr Masagos also announced that SFA will introduce an integrated licensing and recognition framework for food establishments in the first half of 2021.
“SFA will award a longer licence duration and a higher recognition to food establishments which uphold high food safety and hygiene standards. This way, SFA can re-prioritise resources to focus on checks to ensure compliance with food safety requirements,” he said.
The new framework will recognise and incentivise food establishments to continue providing good food safety assurance by maintaining high food safety standards, said SFA in a media release.
READ: Elsie’s Kitchen food hygiene grade downgraded by SFA after food poisoning cases
Food establishments will be divided into three categories, said Mr Masagos, depending on the level of food handling involved. About 20,000 food establishments are expected to come under the integrated framework, he added.
Establishments in Category A and B involve significant or moderate food handling practices, such as restaurants or bakeries respectively.
They will be recognised with longer licences and presented with higher award tiers if they put in place systems and processes to strengthen their food safety and hygiene standards, as well as demonstrate good food safety performance, he said.
READ: Mum’s Kitchen Catering and Cherish Delights get licences suspended after nearly 40 people fall ill
READ: Stamford Catering’s food hygiene grade cut to ‘C’ after 52 people fall ill
Establishments in Category C such as supermarkets, which involve minimal food handling, that have a good track record of food safety assurance will be similarly eligible for longer licences.
This framework will replace the annual grading and licence renewal system for food establishments, and incorporates the Food Hygiene Recognition Scheme for retail food outlets.
Despite the longer licences, SFA noted that it will continue to carry out inspections to ensure food establishments comply with food safety and hygiene requirements.
“Food establishments which commit any major food safety or hygiene lapse or are implicated in a gastroenteritis outbreak will have their award tier downgraded. They will also be issued a new licence with a duration corresponding to the lower award tier,” said the agency.


text:
India Venture Capital Report 2023
2022 signaled a recalibration for venture capital (VC) investments globally after a record capital influx over the last few years. Increasing macroeconomic uncertainty and recessionary fears drove caution in investing momentum globally, headlined by a few key triggers: (a) post-pandemic tightening of monetary policy as central banks pulled the plug on access to cheap capital (more than 2.5 percentage points [pps] interest rate hikes across the US, UK, and Europe during 2022); (b) intensifying geopolitical tensions (e.g., Russia-Ukraine conflict, US-China decoupling); (c) trade sanctions by US and Europe, leading to global supply chain shocks; and (d) surfacing of irregularities in corporate governance across the tech ecosystem globally.
Funding momentum in India similarly softened in line with the global slowdown as total deal value saw a compression from $38.5 billion to $25.7 billion from 2021 to 2022. However, India continued to demonstrate resilience to global headwinds as structural enablers drove a positive economic outlook (i.e., large consumption potential, inclusive growth led by scale digital adoption of the decentralised “India Stack,” effective fiscal and monetary policy discipline limiting inflationary growth, and tailwinds from economic activity shifting away from China). Deeper analysis of the underlying metrics, as indicated below, reflects a more nuanced picture:
Decline in funding mostly took place over the second half of 2022 as global macro headwinds intensified over the year—in fact, investments grew 1.4x over the first half of 2021–2022 but saw a 70% decline in the second half of 2022 compared to the second half of 2021. Within Asia-Pacific, the share of India-focused VC investments reached 20% for the first time, and India continued to account for ~5% of global VC funding in line with 2021. For the second time in a row, the number of unicorns added in India (23) outpaced China (11), and India marked the addition of its 100th unicorn (Open Technologies) in May 2022.
"While macroeconomic factors drove the slowdown in funding globally, India continues to be attractive for investors globally given strong fundamentals. Low leverage, tech adoption, and favorable demographics create a long runway for growth. We see limited impact, especially in early-stage rounds, and continue to invest across sectors.” Elevation Capital
Despite the drop in Indian VC funding to $25.7 billion (0.7x of 2021 funding), deal volume saw marginal 1.1x growth, reaching 1,611 deals led by an expansion in seed to series B deals. Further, series A deals maintained an average deal size of ~$11 million, cementing a step shift in early-stage dealmaking in India (average series A deals hit the coveted $10 million mark for the first time in 2021). The decline was driven primarily by average deal size compression from $25 million to $16 million over 2021–2022. A significant drop in $100 million+ “megarounds” (from 92 to 48 over 2021–2022) was a key factor in deal size compression, with global investors exercising caution on large-ticket size deals. Further, venture funding continued to see democratisation, with emerging hubs beyond Bengaluru, Mumbai, and the NCR (National Capital Region) receiving ~18% of the funding and accounting for 9 of 23 unicorns added in 2022.
“Through our investments in Citymall and Apnamart, we have seen disruption in large $100B categories in Tier 2+. The urban-rural digital divide will continue to converge, creating opportunities for start-ups. We are bullish on the potential of “Bharat”, or Tier 2+ India, and the next decade of start-ups serving its needs efficiently and profitably.”
Software-as-a-service (SaaS) and fintech continued to see momentum relative to 2021, growing in salience from ~25% to ~35% of total funding in 2022. Consumer tech, however, saw a 55% drop, from more than $20 billion in 2021 to less than $10 billion in 2022. Several investment themes emerged in 2022:
Moderation in consumer tech deal momentum was reflected across segments such as edtech, online food delivery, B2C commerce, and D2C brands. Given typically higher cash-burn business models in consumer tech, investors remained cautious about large deals in 2022.
In contrast, SaaS saw steady deal momentum over an expansive base from 2021, led by increasing asset depth, proven revenue growth, EBITDA-positive business models, and an emerging base of second-generation founders focused on building category-defining solutions.
Despite regulatory headwinds and global compression in fintech funding, Indian fintech sustained momentum—driven by several scale deals focused on lending and fintech infra players (four unicorns) in the first half of 2022. The second half of 2022 saw consistent deal volume via early-stage deals across emerging segments—insurtech, embedded lending, and wealthtech.
Finally, green shoots were visible across emergent sectors: electric vehicle (EV), agritech, and deep tech (space tech, generative AI and climate/clean tech) saw significant interest.
The investor base consequently saw a few critical shifts over 2022. Concentration of investments by large investors decreased to less than 20% from ~25% in 2021 as investment activity by global hedge funds and crossover funds slowed down. While most leading VCs saw a compression in the deal activity, salience of early-stage investments by these funds within respective portfolios increased (e.g., more than 80% of deals for top funds, including Sequoia, Accel, and Lightspeed, were early-stage in 2022). Private equity (PE) firms continued to demonstrate interest in select growth equity deals—marquee deals include Dailyhunt (CPPIB), ElasticRun (Goldman Sachs), and Amagi (General Atlantic). In an increasing validation of the maturity of the Indian start-up ecosystem, micro VCs grew in presence: the base of active micro VC funds grew to more than 80; several launched larger funds (e.g., the $55 million Artha Select Fund, maiden micro VC fund by Artha Capital, and the $25 million Auxano Fund); and thematic micro VCs also increased in presence (e.g., SaaS [Pentathlon] and gaming [Lumikai]). Lastly, family offices, corporate VCs, and first-time funds remained active over 2022, participating in more than 300 deals, in line with 2021.
Read More at https://www.bain.com/insights/india-venture-capital-report-2023/


text: This is seven-year-old Erin Parks’ first year selling Girl Scout cookies, but she has sold 394 boxes so far. Erin says she started in December when she sat down with her mother and created a video. Erin’s mother says they started in December when she and Erin sat down together, and Erin created an email list of friends and family. Erin says everything is online this year because of COVID. According to the Arlington Connection, "When her dad was on his Zoom business calls, Erin said she would sneak into his office and jump on his computer to ask the people in his meeting if she could tell them about her Girl Scout cookies. Michelle says she is impressed with how the Girl Scouts have handled it with this year’s constraints. “I love to see how they have come up with creative goals, what it is like to have a business.” Erin’s website announces she has achieved 150 percent of her goal and earned her personalized patch. “I learned how to count money, make the change, and provide great customer service." As per Arlington Connection, "Erin explains “This is what I do. I get my mask, walk up to the door, put the cookies down, and ring the doorbell.” Michelle says they have arranged a delivery time ahead when people will be home. “I step back and thank them for supporting me.” Erin has been surprised at how everyone says they love Girl Scout cookies. She adds that thin mints and samoas seem to be the best sellers, although the tagalongs are her favorite, along with thin mints. “This has been really fun."


text:
To become more sustainable, some industries can adapt their day-to-day operations by incorporating environmentally friendly practices and materials.
For Seth Yon and Skip Carier of the newly-launched Greener Grads, a graduation gown reuse service, making their industry more sustainable has meant rethinking their entire product’s life cycle.
“Nobody has ever had a place to bring [gowns] before to have them reused,” said Yon, a graduation industry vet.
Greener Grads will provide schools in West Michigan and nationwide an opportunity to sustainably collect, reuse and repurpose graduation gowns. Gowns collected by Greener Grads will either be cleaned and made available to schools and universities for use at their ceremonies, or put to use as a versatile polyester material for various manufacturing applications.
According to Yon, such a service is not only more cost-effective than purchasing new gowns, but also mitigates the large amounts of waste created by graduation apparel. Since the late 1970s when rental gowns were replaced with lighter, single-use polyester versions, the amount of waste generated by graduation apparel has been staggering. “100 million gowns have been produced since the graduation industry has moved away from the rental model,” said Yon. “In just West Michigan, we have seen 5.5 million grads in that time. That means 5.5 million gowns.”
“It’s a ridiculous number of one-time-use products,” he continued.
Greener Grads’ steam-cleaning process allows current gowns to be cleaned, sanitized, and worn by new students several times before being repurposed—a huge step in preventing the graduation-related waste that Yon has worked to mitigate in the past. After working with a major graduation apparel company for several years, Yon joined with Michigan Grads to produce and sell gowns made of recycled polyester in an effort to curb the environmental impact of the garments and provide them for a lower cost to consumers. However, after graduation ceremonies were over, he still saw students throwing the gowns away. “I saved some water bottles, essentially, but I only did it for one year—because they’re still going to landfill,” he said. “I thought to myself, ‘There’s got to be a better way.’”
Greener Grads has already found support in the West Michigan community from like-minded universities and schools. Although the company has only recently gone public, several major educational institutions have expressed interest in supplying their students with the re-used gowns.
“It’s a major paradigm shift, because there have always been 2 or 3 companies that have owned the industry,” said Yon.
Currently, Greener Grads has drop off locations at each of the 21 Grand Rapids-area Goodwill stores. Additional 24-hour dropoff sites at partnering locations are planned in the near future.
To contact Greener Grads, or for more information, please click here.


text:
The business industry is witnessing remarkable growth in 2024, driven by various factors that are shaping consumer preferences and business opportunities. One of the standout sectors in this growth story is the chicken-focused business industry.
In this article, we explore why chicken-focused businesses are at the forefront of this expansion, delving into the factors, challenges, and opportunities that define their success.
The Business Landscape in 2024
In 2024, the business industry will flourish, with numerous businesses choosing the franchising model for expansion. This trend isn’t surprising, given the proven benefits of franchising, which include lower risk, established branding, and ongoing support.
The COVID-19 pandemic also spurred the adoption of innovative business models, as companies sought creative ways to reach consumers.
Rise of Fast Food Enterprises
Fast food enterprises are a significant driver of business growth, primarily due to their widespread popularity and recognition. Consumers continue to demand convenience and quick dining options, especially in a fast-paced world.
Fast food businesses, with their streamlined processes, cater to this need effectively. Their accessibility and familiarity have made them a go-to choice for franchise entrepreneurs to become successful looking to invest in a business. Consumer trends further contribute to the growth of fast-food enterprises.
Busy lifestyles and the desire for quick meals on the go are driving people to these establishments. Moreover, fast food businesses have adapted to the evolving demands of health-conscious consumers by introducing healthier menu options, thus expanding their customer base.
The Chicken Business Segment
In the vast and ever-evolving world of fast food and dining establishments, the chicken business segment has carved out a unique and prominent niche. With a rich history and timeless appeal, chicken-focused businesses have achieved enduring popularity among consumers of all ages and backgrounds.
Chicken, often referred to as a universal comfort food, possesses a remarkable quality—it’s both versatile and comforting. Whether it’s crispy fried chicken, succulent grilled chicken, or even plant-based chicken alternatives, there’s something inherently satisfying about this staple protein. This broad appeal is one of the central reasons for the dominance of chicken-focused businesses within the fast food landscape.
With universal appeal, menu versatility, and a commitment to keeping pace with evolving culinary preferences, the chicken business segment has established itself as a front-runner in the world of fast food and dining. It’s no wonder that, in 2024, these businesses will be at the forefront of franchise growth, offering a taste of both tradition and the future to their diverse customer base.
Factors Contributing to Chicken Business Growth
The growth of chicken-focused businesses is no accident, as it’s rooted in several key factors:
Menu Diversification and Innovation: Chicken-focused businesses have been adept at diversifying their menus to cater to a wide range of tastes. From classic fried chicken to grilled options and even plant-based alternatives, they offer something for everyone.
This adaptability has allowed them to stay relevant and appeal to various customer segments. It’s no surprise that they are often considered the best chicken franchise options for entrepreneurs seeking a slice of this lucrative market.
Health and Sustainability Considerations: In an age of increasing health consciousness and sustainability concerns, chicken-focused businesses have taken steps to meet these demands.
They’ve introduced healthier cooking methods and sourcing practices, often touting their commitment to environmental responsibility. This approach resonates with consumers who are looking for guilt-free dining experiences.
Competitive Pricing and Value Propositions: Chicken-focused businesses have maintained competitive pricing, making them accessible to a wide range of consumers. Their value propositions, such as combo meals and family-sized deals, provide customers with attractive options, making them stand out in the highly competitive fast-food landscape.
Challenges and Opportunities
While the chicken business industry enjoys considerable success, it’s not without its challenges. Intense competition, changing consumer preferences, and operational complexities present hurdles that businesses must overcome.
The competition in the fast food sector is fierce, and maintaining a unique value proposition and customer experience is an ongoing challenge. However, these challenges also present opportunities.
For instance, the increasing demand for online ordering and delivery services has led chicken-focused businesses to adapt by expanding their digital presence. They’re leveraging technology to offer a seamless customer experience and tap into a broader market.
The Future of Chicken-Focused Enterprises
What lies ahead for chicken-focused businesses beyond 2024? As technology continues to shape consumer behaviors, we can expect more innovations in the way these businesses operate. Virtual kitchens and drone delivery services are just a few examples of what the future might hold.
These technological advancements not only provide convenience to consumers but also reduce operational costs for businesses. The push for sustainability and healthy eating is likely to persist, and chicken-focused businesses will need to keep adapting to these evolving values.
Consumers are increasingly seeking responsibly sourced and environmentally friendly options. Therefore, businesses that prioritize these aspects in their operations are likely to see continued growth.
In a Nutshell…
In the dynamic landscape of businesses in 2024, the chicken business segment has earned its place at the forefront of growth. Through menu diversification, commitment to health and sustainability, and competitive pricing, chicken-focused businesses have captured the hearts and taste buds of consumers.


text:
Despite heightened cyber concerns, less than half of business leaders have adopted basic preventive measures, according to the Travelers Risk Index.
Cyber threats are the top concern for U.S. business leaders, according to the 2021 Travelers Risk Index results that Travelers announced last week. The results mark a return to the top spot for cyber, which also ranked first in 2019.
As the beginning of October marks Cybersecurity Awareness Month, the majority (59%) of the 1,200 business leaders who participated in the national survey said they worry some or a great deal about cyber, compared to medical cost inflation (53%) and increasing employee benefit costs (53%).
Security breaches, system glitches and unauthorized access to bank accounts are the top three cyber-specific business concerns and more than 1 in 2 of companies believe it is inevitable that at some point they will be the victim of a data breach or cyberattack.
Despite heightened cyber concerns, only 61% of participants reported feeling extremely or very confident in their company's cyber practices. However, less than half of survey respondents have adopted basic preventive measures available to companies, such as multifactor authentication, and cyberattacks continue to increase both in frequency and severity.
One-fourth of participants said their company has been a cyber victim—a 150% increase from 2015—with nearly half reporting that the event happened within the past 12 months. The percentage of respondents who said their company suffered a security breach where someone hacked into a system increased nearly 40% compared to 2020, to almost half (46%).
Positively, however, there continues to be an increase in the percentage of survey respondents whose companies have purchased a cyber insurance policy: 56% this year compared to 39% in 2018.
“We constantly work to raise awareness of the serious and costly consequences that cyber threats can pose," said Tim Francis, enterprise cyber lead at Travelers. “These survey results show that despite cyber risks being the top concern, too many companies are unprepared to deal with them. It's crucial that businesses take the necessary actions to protect their data and assets, especially with so many employees continuing to work remotely."
The Index follows a recent meeting at the White House where Alan Schnitzer, chairman and CEO of Travelers, joined President Biden, members of his Cabinet and national security team, and private sector and education leaders to discuss how to improve the nation's cybersecurity.
Will Jones is IA editor-in-chief.


text:
You’ve probably heard of Simon & Garfunkel, Abbott & Costello now there is Toyota and GoPro. Another great combination has teamed up to produce and capture adventure on video like never before. Toyota and GoPro have formed a partnership that is unprecedented in the automotive industry. The new 2016 Toyota Tacoma will come standard with a GoPro camera mount that will be mounted to the windshield just to the right of the rear-view mirror.
Since its debut in 2004, GoPro has become America’s fastest-growing digital imaging company. Hollywood film directors, the NFL, The Rolling Stones, the US Military and millions of people worldwide are using GoPro cameras. Sales of GoPro cameras have exceeded three million units annually with gross revenues well over $500 million yearly. For the adventure seeker, the GoPro has become the camera of choice. Skiers, skydivers, surfers, cyclist, snowboarders, dog owners, musicians and off-road truck enthusiasts have embraced the GoPro.
It’s no secret that Americans love trucks, off-roading and fun and with the combination of GoPro and the 2016 Toyota Tacoma this is a match made in heaven. If you search YouTube the list of videos from off-roading enthusiasts is too long to count. 2016 Tacoma owners will be able to mount their GoPro cameras onto the windshield and capture breathtaking video for the world to see.
From hauling materials to pulling a boat the Toyota Tacoma continues to be a very popular vehicle for truck owners and with the addition of the GoPro camera mount on the 2016 Tacoma, the adventure just went to a higher level. Are you in the market for some adventure, then the look into the Toyota Tacoma?
Toyota of El Cajon is an official distributor of GoPro products, if you need GoPro gear to capture your off-road adventures please stop by our Parts department, we carry a wide selection of GoPro products.


text:
Former radio presenter, Caroline Mutoko, who quit radio to join the Marketing Department at Radio Africa has is now the laughing stock at Radio Africa.
According to highly placed sources at Radio Africa the the newly appointed Commercial Manager, Millicent Wandera, has ordered all the people working in the sales and marketing departments including Caroline Mutoko, to report directly to her before handling any business deal.
Before these new directives were given, the Radio Africa staff working in the sales and marketing department handled business deals in a shoddy manner without following the due procedures set by the company.
However Millicent Wandera, is said to have threatened to sack those who don’t follow the new order and those who fail to meet new targets. This means that the once arrogant radio presenter will be working under somebody.


text:
Is Canada ready for the makeup of the future?
If Ridley Scott's "Blade Runner" was to dictate futuristic makeup trends, Canadian ladies would probably be sporting deathly white face powder and a dark streak of eyeshadow like Pris, played by Daryl Hannah.
Lucky for women in Canada and around the world, this kind of makeup really hasn't taken off in conventional social circles, although fashion spies might have spotted outrageous makeup during Toronto Fashion Week.
However, we are about to enter 2010, and advances in makeup technology are almost expected. For example, the National Post recently reported on the potential for new mood-enhancing makeup.
You might not yet be wearing a hologram instead of eyeliner, but new some products might aim to enhance the wearer's mood, the news provider reveals. Think of the possibilities: eyeshadow that makes you happy and lipstick that can, literally, bring a smile to your lips.
If you'd rather not have your makeup play with your neurotransmitters, as the news provider claims, you can also go for extreme enhancements.
Long eyelashes are set to be a new trend, Canada.com reveals. Marketing manager at top makeup brand Shu Uemura, Stephanie Block, told the news provider that "the [new] focus is on lashes in every form," and that batting your beauties might become "another [makeup] accessory"


text:
UPSTOX, (formerly RKSV Securities), the new-age on-line discount brokerage firm funded by Ratan Tata, Kalaari Capital, and GVK Davix, is making an investment in equity markets affordable for the masses through its ‘zero brokerage’ on-line and mobile trading platforms.
- Offers hi-tech mobile and on-line trading platforms, which are easy, affordable and operate seamlessly even in lower bandwidth connections
- No brokerage charges required for trading in equity delivery trades through Upstox platform; flat Rs 20 per order on intra-day trading in all other segments
- Eyes a three-fold growth in its Pune client base by the next year
Upstox was the first discount broker in India to introduce commission-free trading. It offers ‘zero’ brokerage on equity delivery trades and a flat rate of Rs 20 per intraday order for all other segments.
The high-end technology platform of Upstox can be supported on low bandwidth connections and without any lag and can seamlessly accept and execute orders. This is the primary reason for Upstox witnessing high participation from Tier II & Tier III, which includes Pune.
While Maharashtra comprises 25 per cent of the company’s total customer base, Pune is one of the fastest growing and most important markets for Upstox. It is the second biggest market for the company after Mumbai and comprises more than five per cent of its total customer base of over 80,000. Since the past one year, the company has witnessed a 300 per cent increase in customer participation from Pune. It is now looking at least three-fold growth in its client base from the city by the next year, leveraging on its ‘zero brokerage model’.
Ravi Kumar, co-founder and chief executive officer (CEO) of Upstox, says, “Pune has been a growing market for us. Most of the customers from the city are young professionals and in the age bracket of 20-30 years, who are more comfortable in using our technology platform, which is far superior to others, is reliable, can be easily used and very competitively priced.”
Upstox’s ‘zero brokerage’ model rests on prudent use of design and technology to cut costs at every level and transferring this cost benefit to the end customer. Being a tech-heavy, product-centric company, Upstox deploys intelligent technology solutions in areas where it feels are adding up to its own costs or time or of its client, thus ensuring impeccable user experience at the minimal price. The company has also been able to reduce costs by eliminating all paperwork and not having its own offices. It operates out of its own office in Mumbai. It has satellite offices in most major cities and works with authorised partners in the small towns.
“More and more investors are preferring technology platforms to participant on stock markets, because of obvious cost benefits and easy access. The fact that Pune comprises of more than nine per cent of our app users, with the share of Pimpri-Chinchwad at 1.5 per cent, points out to the changing preferences of investors from the city. We will continue to launch innovations and deploy more intelligent technology solutions to tap a bigger chunk of clients from this city,” adds Shrini Viswanath, co-founder and chief technology officer (CTO), Upstox.
The discount brokerage company clocked a robust 200 per cent growth in revenues and client base in the past year between December 2016 and December 2017 owing to its strong technology-heavy model to provide best-in-industry brokerage services at the lowest of costs. It is among those extremely rare venture capital-funded start-ups in India to have turned profitable at such an early stage.
Upstox’s contribution to the exchanges daily notional turnover increased to a range of Rs 14,000 and 18,000 crores and client base grew to over 80,000 this year, as compared to its last year’s figures. Upstox was clocking in an exchange turnover of about Rs 5000 – 6000 crore per day last year and had around 25,000 clients. The company is planning to continue with its current growth. The company is planning to continue with its current growth phase and is targeting at least 300 per cent increase in turnover and customer numbers this year.


text:
Wish you could watch a video on YouTube while searching for another one? Today is your lucky day.
The popular video-sharing site launched a new version of its apps for iOS and Android on Tuesday, adding a brand new look and a number of new features, including a new small video window that puts your video at the bottom of the screen while you search the app for another.
A video can be brought back to full screen with just a tap or dismissed by swiping the smaller video off the screen.
In addition to the video player update, the newest version of the app includes the ability to search and browse channels for playlists, and watch collections of videos back-to-back.
And for those who cast videos from their phone using Chromecast, Google TV or Playstation3, YouTube will now show a preview screen on all your connected devices. This will allow users to easily see what's coming up and add additional videos to the mix.


text:
GENEVA (Jun. 26)
There are ties that bind even two countries that are officially in a state of war. They are sold in an elegant shop on Geneva’s fashionable Rue du Rhone.
Israel’s Ambassador to France, Ovadia Soffer, discovered this when on a visit here he went to the shop to purchase a tie. Immediately he was surrounded by Arab-speaking security men. The envoy says he thought to himself: “I have been recognized. My final hour has arrived.”
But such was not the case. The security men were guarding Riffat Assad, brother of President Hafez Assad of Syria who was in the shop with his wife. When Soffer picked a tie and handed it to the sales woman for wrapping, Mrs. Assad, looking over his shoulder, told the woman, “This model I would like for my husband, but in different colors.”


text:
A new piece of research from The Diffusion Group (TDG) makes a head-scratching observation about tablet users.
They’re far more likely to use over-the-top apps that give them content from Netflix or Hulu or other OTT providers than they are to use TVEverywhere apps, now offered in some profusion by broadcasters and cable networks -- or, particularly, cable operators.
TDG’s data says 41% of tablet owners use OTT apps at least once a month. Just 26% use apps from ABC, CBS, NBC and Fox. Another 21% use cable network apps. Only 16% use apps available from cable/satellite operators.
There are implications for everybody in data like that, but one big, fat question: Since tablets have become the second, or even first screen, why should OTT be so far ahead?
Michael Greeson, TDG president and director of research, gives a common-sense answer: Internet-based apps were there first.
As Netflix figured out instantly, they had to be there to meet the crowd that quickly acquired iPads.
“Broadcasters got their TVEverywhere apps together pretty quickly after that and so did cable channels."
That's not the end of the story. "What’s amazing to me is that for cable operators, it still doesn’t seem to be a priority for them,” Greeson says.
And if you think about it, he seems to have a point. Individual networks -- broadcast and cable -- advertise that you can download an app to watch episodes or the entire channel. If you watch any TV at all, you’re aware of it.
While cable operators offer that service, Greeson says it’s a message obscured by cable operators stressing the quality of service or pushing advanced services like Comcast’s X1 system (and its voice activation system).
According to TDG’s new data, 77% of the 1,500 table consumers interviewed say they never use apps provided by service providers. It’s a step ladder down to respectability from there: 69% say they never use cable apps; 63% say they never use broadcasters’ apps; and just 52% say they never use apps for OTT services.
To put it another way less than a quarter of tablet users ever use apps provided by their cable/satellite provider, while nearly half use apps provided by an OTT provider.
Indeed, the tablet app has to be the greatest thing that ever happened to Netflix.
Greeson acknowledges all those percentages might level off to the same point the longer the apps are around -- but then again, maybe not, especially if Netflix and others come up with more winning hands like “House of Cards.” Obviously, other online content providers out there will create big over-the-top followings that will keep tablet (and mobile) users occupied.
Operators might think their own TVEverywhere applications are just a safety net against the wily cable cord-cutter. “It seems the way they market it, it’s more like something they did just to get it done,” Greeson. “It seems kind of defensive.”
But he argues, “apps are the future of TV. Apps lead people back to their TVs eventually, and that’s what operators should want. I wonder, what are those guys thinking?”
He brings up another interesting theory: If consumers shop for TV and Internet content apps online through app stores, they might never realize the cable/satellite apps exist. Viewers watch programs, and Web sites and YouTube channels and maybe networks. Shopping for a cable app is the last thing on their minds, and, apparently on their tablets, too.


text:
As Covid-19 hit India and the country went into lockdown, our brave beneficiaries were thinking of other victims still trapped in the red-light districts. They quickly began making masks for girls in the red-light area. They have also been preparing for their certification tests and making jewelry during this COVID lockdown. Each of them is rooting for each other and doing very well during this difficult time.
Author Archives: rushad
Hello friends of YouCanFreeUs, we are living in unprecedented times. Our world is literally on lockdown with so much uncertainty about the next few weeks and months. Our prayer is that all of you who are part of the YouCanFreeUs global community are staying healthy and safe. We want to update you on some the
YouCanFreeUs India in partnership with the French Consul General hosted a conversation on women’s empowerment on March 5, 2020 for the occasion of International Women’s Day. Speakers included Hon. Minister Aditya Thackeray; Hon. Minister Yashomati Thakur, fashion designer Nivedita Saboo, Head Accor, South Asia and Sujo John, founder of YouCanFreeUs.
YouCanFreeUs India in partnership with the French Consul General hosted an event about Women Empowerment on March 5th, 2020, to mark International Women’s Day. Speakers included Ms. Sonia Barbry – Consul General of France in Bombay, Minister Aditya Thackeray, Hon. Minister Yashomati Thankur, fashion designer Nivedita Saboo and Sujo John – Founder of YouCanFreeUs. To
A Story of Triumph
Kavya now has the freedom to pursue her dreams.
Falak is now following her dreams at YouCanFreeUs.
23 Rescued… We have had a phenomenal start to the year. Since January 1, 2020 we have rescued 23 women and children victims of modern slavery. Our work continues to grow. One of the reasons for our growth has been the fact that we now have a dedicated rescue team which involves investigators, informers and social
Our Initiatives, Section 2
ila Generation and UN Women – Being in a corporate environment workshop at We Work
Important lessons on the behavior, expectations and work ethic required in the professional world.


text:
Lordstown Motors reported Monday that CEO Steve Burns and CFO Julio Rodriguez have resigned. The announcement came days after the electric truck maker warned that it experienced “significant question” about its capability to continue as a going worry in the upcoming year.
Shares of Lordstown, which went public by way of a exclusive goal acquisition company in Oct, slid 18.8% Monday to $9.26.
Lordstown said its guide impartial director, Angela Strand, has been appointed executive chairwoman and would oversee the firm’s changeover till a long-lasting CEO is determined. The corporation named Becky Roof as interim CFO, productive right away.
The resignations come amid an inside investigation of the company’s functions into claims by short-seller Hindenburg Exploration that it misled investors. The Securities and Exchange Fee has opened an inquiry looking at Hindenburg’s promises as effectively as the company’s merger with SPAC DiamondPeak Holdings.
Hindenburg accused Lordstown in March of utilizing “phony” orders to raise cash for its Stamina electric pickup. The shorter seller said the pickup was decades away from creation, but Lordstown has taken care of it can be on monitor to begin creating the auto in September.
Morgan Stanley analyst Adam Jonas mentioned the administration adjust is “an important 1st phase for the organization to transfer ahead,” including securing important new capital.
“We felt it was untenable for the business to safe required new capital with a management workforce widely seen as potentially not major the firm into the future era of its growth,” he mentioned Monday in an trader note.
The resignations are the most up-to-date fallout at Ohio-based Lordstown. Shares of the aspiring automaker are down 54% this calendar year. Its current market cap is about $2 billion.
In May possibly, the company slashed its creation guidance for the calendar year and stated it will have to have to increase more capital.
Lordstown is among a expanding group of electric powered car begin-ups heading community through deals with SPACs, which have turn into a popular way of increasing revenue on Wall Road because they have a extra streamlined regulatory method than regular initial public offerings.
The business is scheduled to host media, buyers, analysts and other folks subsequent week at its plant, a former Common Motors facility in Ohio. Strand claimed individuals strategies are nonetheless in area.
“We keep on being dedicated to delivering on our creation and commercialization objectives, holding ourselves to the optimum standards of procedure and functionality and developing benefit for shareholders,” she claimed in a assertion. “Along with the administration team, I will continue on to get the job done closely with them and the Board to execute on Lordstown’s eyesight for the foreseeable future of electrified transportation.”
Burns is the latest superior-profile govt of a SPAC-backed automotive enterprise to resign. Nikola Chairman Trevor Milton, who was CEO in advance of the company’s June 2020 IPO, resigned very last calendar year amid SEC inquires following a independent Hindenburg Investigation report that accused Milton and the organization of deceptive traders.
More a short while ago, Canoo CEO Ulrich Kranz, a previous BMW executive, resigned from the EV start off-up in April. He was not long ago hired by Apple.
– CNBC’s Michael Bloom and Reuters contributed to this report.


text:
Switzerland keeps exporting large quantities of gold to the United States, according to Swiss customs data. In May and June large quantities of gold were shipped to the other side of the Atlantic, where the demand for the precious metal is still very high. Switzerland exported 126 tons of gold to the US in May. A month later it was 68 tonnes. As a result, the United States are by far the most important export destination for the precious metal in recent months.
As we wrote earlier, this new trend is the result of a run on gold in the United States. Investors are not only buying coins and bars, they are also putting billions of dollars into gold-ETFs. In order to absorb the influx of new participants, these funds have to further expand their gold reserves. At the same time a lot of gold goes to various bullion banks, which need it to be able to meet their delivery obligations. On the futures market many more gold contracts are nowadays settled with physical delivery of the metal, instead of being rolled over. So traders buy precious metal on a large scale.
Gold flows from east to west
In recent years India and China have been the main markets for gold, but now it is mainly savers and investors in Western countries who are buying. Due to the corona crisis, the economic outlook has deteriorated drastically. Due to a flight to government bonds the interest rate has also decreased further. As a result, more people are seeking refuge in precious metals. This was accompanied by a rapid rise in the price of gold, which enticed even more investors to step in.
As a result of the rise in prices, demand in countries such as China and India has actually fallen in recent months, causing the center of gravity of the gold market to shift back to the West. Switzerland, for example, has not exported any gold at all to China in the last four months, which is exceptional. Swiss gold exports to other parts of the world have also been much smaller than usual in recent months. Exports to India are also negligible, whereas they are of the largest markets under normal market circumstances.
The last time so much gold went to Western countries was in 2016, the year of the Brexit and the American presidential elections. Then a lot of precious metal went to the United Kingdom, where many gold ETF’s hold their physical stock.
Gold keeps flowing from Switzerland to the US


text:
Sony Open spotlights 3-D technology
Sony gave golf fans a glimpse of its new 3-D television technology during a demonstration yesterday at the Sony Open.
Footage of golfers at the tournament was filmed Tuesday using special 3-D cameras, and shown yesterday in the Sony tent at the Waialae Country Club.
Sony, which has suffered three consecutive quarterly losses, is hoping 3-D television technology will vault it back into a leadership position in consumer electronics.
Sony has persuaded both the PGA Tour and ESPN to begin taping and broadcasting events in 3-D.
BBB SEEKS NOMINEES FOR TORCH AWARDS
Hawai'i's Better Business Bureau is accepting nominations for the 2010 Torch Awards.
The awards honor four small, medium and large businesses, and one public charity for their outstanding commitment to fair, honest, and ethical marketplace practices.
Entry forms are available on Hawai'i's BBB Web site, and the deadline is 4 p.m. Feb. 26.
The BBB Torch Awards are open to all Hawai'i businesses and charities. BBB accreditation is not required to enter.
Finalists will be announced in late March, and winners will be announced at a luncheon on April 28.
For more information about the BBB Torch Awards, visit www.hawaii.bbb.org/torchawards or call 536-6956; Neighbor Islands call toll free at 877-222-6551.
FIRM NOW KNOWN AS WAVECOM SOLUTIONS
Local telecommunications company Pacific Lightnet has changed its name to Wavecom Solutions.
The name change will coincide with Wavecom Solutions' intent to broaden the scope of its business to included managed services.
As part of the move, Wavecom Solutions hired industry veteran Simon Fiddian as its new chief technology officer. Fiddian previously worked at Telstra and BT.
— Advertiser Staff


text:
Software firm Wipro and State Bank of India (SBI) have joined an initiative to accelerate the electric vehicle drive globally.
In association with The Climate Group’s, global electric vehicles initiative, EV100, both the firms have committed to transitioning their respective global fleets into e-vehicle by 2030.
While Wipro will begin rolling out in Delhi, Bengaluru, Hyderabad and Pune, SBI will establish charging stations in major residential spaces to support the electric vehicle ecosystem. Wipro has already leased around 50 electric vehicles in Hyderabad and New Delhi.
Presence of both firms, who have leadership on electric vehicles, will send a strong demand signal to the market in India and beyond. More companies should follow their lead as it will help boosting low-carbon economic development,” said Jarnail Singh, The Climate Group India, Director in a statement.
Wipro plans to involve nearly 2000 vehicles in India before addressing international markets. Moreover, the company also expects to scale up the use of electric vehicles to 500 in the next three years and 1,000 by 2023.
SBI believes EV100 is destined to transform global markets and policies, and would leverage innovation to accelerate the adoption of electric vehicles. SBI has a network of more than 22,000 branches across India and 206 overseas offices spread over 35 countries.
Through EV100, leading businesses can help increase demand for EVs and improve the availability of charging infrastructure – currently a significant barrier to EV adoption in India. Together, this will accelerate a much-needed shift in the market, bringing down costs to make EVs more accessible for all.
The anuancement was made at an event that was attended by CEO of NITI Aayog Amitabh Kant.
We had joint launch of @WBCSD's #REmobility and @ClimateGroup's EV100 today morning in Delhi, India. Keynote by Mr. Amitabh Kant, CEO, @NITIAayog. The event was attended by #India's EV value chain and several corporate customers looking to adopt electric fleets. pic.twitter.com/ApSevaK4VG
— Jasmeet Khurana (@jasmeetkhurana) April 11, 2018
@EESL_India commited to transition GoI fleet to 100% electric soon. That would mean whopping 3-4 GWh of storage capacity every year and that's just the start! Ongoing #EV100 panel pic.twitter.com/2Ravs4PZfm
— Jarnail Singh (@jrrnail) April 11, 2018
This will add to the India e-vehicle programme, where the government has already committed to make e-transition by 2030.
In September last year, Gadkari also announced that Delhi roads may see the electric bike in the coming months. As per the report, the govt was engaged in initial talks with SoftBank for loans at the low-interest rate for a green project.
On the lines of his initial commitments, the minister said plans are afoot to gradually convert transport to electric, ethanol, methanol, bio-diesel, bio CNG and other such means.
For public transport, electric buses will be promoted and using supercapacitor technology, a charged bus can run for 36 km and will be charged in 3 minutes.


text:
“Microsoft Monday" is a weekly column that focuses on all things Microsoft. This week, Microsoft Monday includes details about the Window Defender extension for Google Chrome, the OneNote 2016 Updates being suspended in favor of the Windows 10 OneNote app, the Azure Sphere announcement and much more!
Windows Phone Stock Appears To Have Run Out
VentureBeat’s Emil Protalinski has been paying close attention to the number of Windows Phone options available on the Microsoft Store. And it appears that Microsoft has run out of Windows Phone device inventory. Interestingly, Protalinski expected Microsoft to run out of stock over six months ago.
There are two Windows Phone devices still listed, but they are “out of stock.” The two listed devices that are out of stock includes the HP Elite x3 with dock and the Alcatel Idol 4S.
You can still buy smartphones from the Microsoft Store, but they run on Android rather than Windows 10 Mobile. If you are interested in purchasing the HP Elite X3, then Microsoft is recommending you to try buying it from Amazon or Staples. The Alcatel Idol 4S may be more challenging to find.
Windows Defender Launched As Google Chrome Extension
Microsoft has released a Google Chrome browser extension for its Windows Defender anti-virus software. Microsoft said that its software offers 99% protection against phishing attacks.
“The Windows Defender Browser Protection extension for Google Chrome allows you to add an additional layer of protection when browsing online, powered by the same trusted intelligence found in Microsoft Edge,” says Microsoft in its description of the Google Chrome extension. “The extension alerts you about known malicious links, and gives you a clear path back to safety.”
OneNote 2016 Updates Suspended In Favor Of Windows 10 OneNote app
Microsoft has decided to suspend updates to OneNote 2016 app for Office 365 in favor of the Windows 10 OneNote app. The Windows 10 OneNote app will be built into Office 2019. Microsoft will not discontinue OneNote 2016, but it will not add any new features to the software.
To ensure a seamless transition, Microsoft plans to migrate features from OneNote 2016 to the Windows 10 OneNote app such as the ability to insert and search tags, page templates and Office file previews.
“While we’re no longer adding new features to OneNote 2016, it’ll still be there if you need it. OneNote 2016 is optionally available for anyone with Office 365 or Office 2019, but it will no longer be installed by default,” said Microsoft in a blog post. “If you currently use OneNote 2016, you won’t notice any changes when you update to Office 2019. We’ll continue to offer support, bug fixes, and security updates for OneNote 2016 for the duration of the Office 2016 support lifecycle, which runs through October 2020 for mainstream support and October 2025 for extended support.”
Mojang Removes Minecraft Skin Malware
There are about 50,000 out of 74 million Minecraft users that were infected with malware via downloadable skins. According to Avast’s Alexej Savčin via The Next Web, the malware in the Minecraft’s skins was designed to reformat hard drives and delete backup data. The malware also insulted users for downloading it and said: “buy a new computer.”
The skins that contained the malware was downloadable from the official Minecraft website, but Mojang rectified the issue quickly after finding out about it.
Minecraft Marketplace Creators Paid $7 Million Since June
According to Fast Company, Microsoft has paid out $7 million to Minecraft Marketplace creators since the program launched in June 2017. This is up from $1 million as of September 2017.
As a result, Microsoft is going to ramp up the number of creators. So far only 45 companies received invitations.
Azure Sphere Announced
Last week, Microsoft announced Azure Sphere at an RSA 2018 press event in San Francisco. Azure Sphere is a solution for creating highly-secured Internet-connected microcontroller (MCU) devices. Microsoft pointed out that nearly every consumer gadget, household appliance and industrial device will have the ability to connect to the Internet using the tiny chips.
According to TechCrunch, Microsoft president and chief legal officer Brad Smith will be licensing the new Azure Sphere chips for free. And those devices will have built-in connectivity that can connect to the Azure Sphere Security Service in the cloud.
“Our device manufacturing partners consider security a pre-requisite for creating connected experiences, and they know that single line-of-defense and second-best solutions are not enough,” said Microsoft Azure Sphere Partner Managing Director Galen Hunt. “Azure Sphere provides security that starts in the hardware and extends to the cloud, delivering holistic security that protects, detects, and responds to threats – so they’re always prepared. And they love the fact that our solution is turnkey, eliminating the need to invest in additional infrastructure and staff to secure these devices.”
One of the most interesting aspects of this service is that this device will run on a custom Linux kernel called Azure Sphere OS rather than on Windows.
“This OS is purpose-built to offer unequalled security and agility,” added Hunt. “Unlike the RTOSes common to MCUs today, our defense-in-depth IoT OS offers multiple layers of security. It combines security innovations pioneered in Windows, a security monitor, and a custom Linux kernel to create a highly-secured software environment and a trustworthy platform for new IoT experiences.”
MediaTek is the first company to produce the first set of new MCUs — which are low-powered single-core ARM-A7 systems that run at 500MHz and includes Wi-Fi connectivity along with a number of other I/O options.
Supreme Court Drops Lawsuit Due To CLOUD Act
The U.S. Supreme Court has tossed out a case between Microsoft and the Department of Justice about data stored in overseas servers. Both the Justice Department and Microsoft asked the Supreme Court to drop the lawsuit after Congress passed the CLOUD Act in March.
The lawsuit was triggered by Microsoft’s decision to avoid pulling customer data from a server in Ireland, which was being demanded by the federal government for criminal investigation purposes.
"We welcome the Supreme Court's ruling ending our case in light of the CLOUD Act being signed into to law. Our goal has always been a new law and international agreements with strong privacy protections that govern how law enforcement gathers digital evidence across borders. As the governments of the UK and Australia have recognized, the CLOUD Act encourages these types of agreements, and we urge the US government to move quickly to negotiate them,” said Smith in a statement via ZDNet following the Supreme Court’s decision.
Windows 10 Update Delayed Due To Blue Screen Of Death (BSoD) Problems
Microsoft was planning to release a major Windows 10 update (codenamed Redstone 4) earlier this month, but there was a hiccup in the process. It is believed that the internal target release date was April 10th. However, there was a last-minute “blocking bug” that delayed the release. Specifically, there were reliability issues that could have led to a higher percentage of the Blue Screen of Death (BSOD) on PCs.
“Today, we are releasing Windows 10 Insider Preview Build 17134 (RS4) to Windows Insiders in the Fast ring. This build has no new features and includes the fixes from KB4100375 as well as some fixes for general reliability of the OS. As Build 17133 progressed through the rings, we discovered some reliability issues we wanted to fix,” wrote Microsoft’s Dona Sarkar in a blog post on April 16th. “In certain cases, these reliability issues could have led to a higher percentage of (BSOD) on PCs for example. Instead of creating a Cumulative Update package to service these issues, we decided to create a new build with the fixes included. This just reinforces that Windows Insiders are critical to helping us find and fix issues before releasing feature updates to all our customers so thank you!”
Some of the new features that will be in this update will include the new Timeline, HDR support, tabbed app expansion, Fluent Design elements and enhanced dictation.
Windows 10 Update To Support Additional Password-Free Options
The upcoming Windows 10 update will support additional options for logging into services without the use of passwords. This will be made possible through the support of the FIDO 2.0 standard.
“Our analysis indicates that cloud-based user account attacks are up more than 300% over the past year. Passwords are the weakest link, and they are a source of frustration for users. Today we are announcing an important step in our work to lead the industry toward a future without passwords: support for the FIDO 2.0 standard in the next Windows 10 update,” said Microsoft’s Director of Enterprise and Security of Windows Rob Lefferts in a blog post. “Millions of Windows 10 users already have the ability to sign in to Windows without a password using Windows Hello – making authentication stronger and easier. With FIDO 2.0 support, users can take that same password-free authentication experience to any Windows 10 device managed by their organization.”
LinkedIn CEO Jeff Weiner Says Integration Is Exceeding Expectations
Jeff Weiner, the CEO of LinkedIn, said in a CNBC interview that the integration with Microsoft has exceeding expectations. Weiner said that LinkedIn saw record levels of engagement and revenue that it has not seen since going public in 2011. Microsoft closed the LinkedIn acquisition for $26.2 billion in December 2016.
Microsoft and LinkedIn have integrated several of their products since the acquisition. For example, LinkedIn user profile data is now built into Office 365 applications like Outlook.
“LinkedIn continues to operate independently, but we are also able to leverage Microsoft’s huge footprint of roughly 1 billion customers on a global basis, their talent, their infrastructure, their advanced technology,” said Weiner in the interview. “So, so far so good.”
Microsoft, Facebook and 32 other technology companies have signed a cybersecurity pledge to protect customers from hackers and avoid helping governments launch cyberattacks and protect the exploitation of products and services. The Cybersecurity Tech Accord is considered a “watershed agreement” by the signatories.
The list of companies that signed the agreement are ABB, Arm, Avast, Bitdefender, BT, CA Technologies, Cisco, Cloudflare, DataStax, Dell, DocuSign, Facebook, Fastly, FireEye, F-Secure, GitHub, Guardtime, HP Inc., HPE, Intuit, Juniper Networks, LinkedIn, Microsoft, Nielsen, Nokia, Oracle, RSA, SAP, Stripe, Symantec, Telefonica, Tenable, Trend Micro and VMware.
Report: Tech Scams Are Getting Worse
Microsoft said that email scams, fake websites, illegitimate phone calls and malware are getting worse. Microsoft said it received 153,000 reports in 2017 across 183 countries from customers that came in contact with scammers, wrote Microsoft’s Windows Defender Research Project Manager Erik Wahlstrom in a blog post. This is up 24% from 2016.
Around 15% of those customers an average between $200 and $400. In some instances, customers lost substantially more. “In December 2017, Microsoft received a report of a scammer emptying a bank account of €89,000 during a tech support scam in the Netherlands,” Wahlstrom added.
This problem is not just tied to Windows. For example, tech support scams also targeted specific platforms like Windows, macOS, iOS and Android. So the Microsoft Digital Crimes Unit (DCU) worked with law enforcement and other agencies to fight the scammers.
Bill Gates Invests In Satellite Surveillance Company EarthNow
EarthNow is a company that provides satellite imagery and live video in real-time. According to TechCrunch, EarthNow can provide live video with a latency of about one second. Last week, EarthNow announced its first round of financing from a group of renowned investors. This includes AirBus, SoftBank Group, Greg Wyler and Microsoft co-founder Bill Gates. EarthNow is actually one of the latest companies to spin out of the Intellectual Ventures ISF Incubator. This round of funding was undisclosed.
Intellectual Ventures was founded by Dr. Nathan Myhrvold in 2000 after he retired as chief strategist and chief technology officer of Microsoft. And Wyler is an experienced satellite expert as his company OneWeb has already deployed many satellites, which have 130ms latency and is aiming to have a constellation of hundreds of broadband satellites by 2020, according to Gizmodo. EarthNow is going to use an upgraded version of OneWeb’s technology in a 500-pound unit.
“Each satellite is equipped with an unprecedented amount of onboard processing power, including more CPU cores than all other commercial satellites combined,” said EarthNow in its press release.
EarthNow’s technology could be used for detecting illegal fishing in the act, tracking white whale migration, monitoring hurricanes and typhoons as they form, reporting forest fires as soon as they start and helping smart cities become more efficient.


text:
STEPN, a web app powered by the Solana blockchain and rewarded for walking through space, released some notable statistics on Thursday, marking a year of success.
Users have traveled over 67 million miles (108,017,738 kilometers) on the app, reaching an all-time high of 1 million on June 2, 2022, and a total of 4.72 million registered users at the time of writing.
It was reported that STEPN made over $26.8 million and $122 million in the first and second quarters of 2022, respectively.
While generating significant income this year, STEPN struggled to find the right tokenomic balance at specific points. As Erina Azmi of The Block Research wrote in April, users who have gone over level 30 have lost key ways to burn their tokens, which could lead to an inflation of GST, one of the app’s in-game tokens, if left uncorrected.
Distribution of in-game currency STEPN.
The stakes were high as previous giants in the play-to-earn sector, such as Axie Infinity (AXS), experienced a sharp decline in user numbers after its in-game token dropped in value due to inflation. Azmi writes that the number of STEPN users declined in April when the price of GMT, the game’s second in-game currency, fell by 80%, dropping the game’s monthly user count from 700,000 to less than 100,000. GMT and GST were critical.
However, over the year, STEPN implemented supply throttling, such as buybacks and token burns, which reduced the amount of GMT in July, helping to make its gaming ecosystem more resilient.


text:
Dill produces pink gauges in its Oxford, NC, facility, with all proceeds being donated toward breast cancer research.
Dill employees started this now annual fundraiser in memory of one of their own.
Dill produces pink Breast Cancer Awareness air gauges in its Oxford, North Carolina, manufacturing facility.
For California-based Westesco, 2018 marked a record-breaking sales year for its relationship with Dill Air Controls. Dill recently honored Westesco for its efforts.
Dill’s stainless steel version of the 7260 includes an auto on/off feature and each unit is assembled and tested in the U.S.
In support of Breast Cancer Awareness month and the Susan G. Komen foundation, Dill Air Controls produces pink Breast Cancer Awareness air gauges in its Oxford, North Carolina, manufacturing facility. All proceeds from these air gauge sales are donated directly to the Susan G. Komen foundation.


text:
Smithfield Foods won national security clearance on Friday for its proposed $ 4.7 billion sale to a Chinese meat processor, overcoming one of the biggest obstacles to a takeover.
The approval by an important government committee came despite the deep-seated skepticism of a group of lawmakers, who professed concern over a Chinese company owning Smithfield, America’s biggest pork producer.
Analysts, however, are expecting Smithfield and its suitor, Shuanghui International, to prevail. The Committee on Foreign Investment in the United States, commonly known as Cfius (pronounced SIF-ee-us), has historically reviewed acquisitions involving key industries like energy and technology. But it has little precedent in examining them in the food sector.
Both companies have argued that their combination poses no danger of compromising American food safety standards. Indeed, they have contended that the goal is to export more Smithfield pork to China, satisfying rising demand for high-quality meat in that country.
“This transaction will create a leading global animal protein enterprise,” Zhijun Yang, Shuanghui’s chief executive, said in a statement on Friday. “Shuanghui International and Smithfield have a long and consistent track record of providing customers around the world with high-quality food, and we look forward to moving ahead together as one company.”
But the takeover, the largest ever of an American company by a Chinese counterpart, was almost certain to attract scrutiny.
Skeptics have repeatedly raised concerns about the possibility of compromised food safety standards. Members of the Senate Agriculture Committee held a hearing this summer reviewing whether foreign takeovers of American food producers were in the country’s best interests.
Senator Debbie Stabenow, Democrat of Michigan and chairwoman of the committee, said in a statement: “It remains unclear what factors the committee took into account in making its decision. We still do not know if the potential impact on American food security, the transfer of taxpayer-funded innovation to a foreign competitor, or China’s protectionist trade barriers were considered. It’s troubling that taxpayers have received no assurances that these critical issues have been taken into account in transferring control of one of America’s largest food producers to a Chinese competitor with a spotty record on food safety.”
Shuanghui has struggled with food quality controversies in the past. The company was at the center of a Chinese television investigation into sales of pork produced with clenbuterol, a food additive banned in the United States, the European Union and China because of health risks.
The company apologized and promised to revamp its safety regimen.
Though the Smithfield deal cleared the Cfius review, it must still pass muster with the company’s shareholders, who are scheduled to vote on Sept. 24. An activist investor who owns 5.7 percent of the pork producer, Starboard Value, disclosed recently that it would vote against the transaction. The hedge fund added that it had held talks with potential rival suitors who, it said, were willing to pay “substantially” more than Shuanghui’s $ 34-a-share cash bid.
Shares in Smithfield closed on Friday at $ 33.92, off 4 cents, suggesting that investors believe Shuanghui’s offer will succeed.
The Cfius approval came on the same day that Smithfield reported a 36 percent drop in first-quarter profit.
Net income was $ 39.5 million, or 27 cents a share, compared with $ 61.7 million, or 40 cents a share, in the period a year earlier. Revenue rose nearly 10 percent, to $ 3.4 billion.


text:
In the face of the Covid-19 crisis and its economic hurdles, Canada has set up relief plans and taken action to support its economy. As Covid-19 crisis hit the world and threw it into an economic turmoil, various countries have set up relief plans and taken measures to help support their economies. In Canada, several […]
Your company is established outside the European Union, and you paid VAT in France in 2019, this article deals with the question.
On 1st July 2020, telecommunications software and services suppliers will be imposed a new tax in British Columnia. Discover its applications.
While awaiting the implementation of the Definitive VAT System on 1 July 2022, the European Union introduced a series of small measures to improve the current VAT system, the « Quick Fixes », which will enter into force in all EU Member States on January 1st 2020.


text:
Government Issues Proposal for Plans to Challenge Late Payment in Business.
Following their discussion paper in February 2015, the Government have recently published their proposals of how they can challenge late payment in business.
There has been much talk about the Small Business Commissioner, the role of which will be to help small businesses avoid going to court to resolve payment disputes, with plans already set in motion in regards to this role.
However the Government has recognised that there will be occasions in which litigation will be necessary, stating that ‘the Government believes it is important that they [small businesses] have the range of options available to them to take against ‘grossly unfair’ payment terms and practices.’*
A selection of the proposals made to challenge late payment in business
- The small business commissioner is one of the major factors the Government will use in tackling late payment
- The propose to give power to representative bodies, who will challenge ‘grossly unfair’ contract terms and practices on behalf of small businesses
- Organisations will nominate themselves to become these representative bodies, and will have the choice of whether to work with members or non-members of their organisation
- It will be made easier for disputes surrounding contractual terms and practices to be taken to court; courts will also have the opportunity to decide which practices would be considered ‘grossly unfair’. The paper states that the case law created from these decisions will clarify the meaning of ‘grossly unfair’ in the long run.
As with the proposals for the Small Business Commissioner this paper outlines that the process of tackling late payment in business is heading in the right direction. However, we are still lacking detail over what powers representative bodies will have and what the recommended penalty for businesses paying late will be.
The issue of late payment presents a difficult challenge for the Government to assess and provide effective solutions, therefore we hope that the extensive research that is being carried out regarding the issue will result in a positive outcome for small, medium and large businesses alike.
Take a look at our Disputed Invoice Management Toolkit for guidance on how your business can deal with disputes.


text:
Verizon has now joined the growing advertising boycott against Facebook, but the social network reportedly won’t ‘make policy changes tied to revenue pressure’.
Telecoms giant Verizon has become the biggest company to join the #StopHateforProfit campaign that’s calling for companies to boycott putting ads on Facebook until the social network takes a greater stand against racist content on its platforms.
It follows Ben & Jerry’s decision earlier this week to pause all paid advertising on Facebook and Instagram in the US, saying that the platforms in their current forms are being used to “foment and fan the flames of racism and violence”.
In a statement yesterday (25 June), Verizon’s chief media officer, John Nitti, said: “We’re pausing our advertising until Facebook can create an acceptable solution that makes us comfortable and is consistent with what we’ve done with YouTube and other partners.”
Now, according to emails seen by The Wall Street Journal, Facebook is trying to convince advertisers and agencies not to pause spending, saying it is taking the problem of racism on its platforms seriously. However, the emails added that any changes made to Facebook will be the result of its principles, not external pressure.
“We do not make policy changes tied to revenue pressure,” said an email attributed to Carolyn Everson, the vice-president of Facebook’s global business group. “We set our policies based on principles rather than business interests.”
Facebook improvement ‘not that hard’
Meanwhile, leaked audio recordings obtained by the Financial Times of Facebook’s head of trust and safety policy, Neil Potts, revealed the executive acknowledging the company has a “trust deficit”.
The audio was from a call convened by the Canadian Advertising Bureau, with one member asking Potts why advertisers should risk harming their reputation by collaborating with Facebook.
“There is a trust deficit. You try to make a decision and people disagree and maybe that builds that deficit even deeper,” Potts said.
Facebook has not responded to comments about these internal communications.
One of the organisers of the #StopHateforProfit campaign, the Anti-Defamation League, published an open letter yesterday to companies advertising on Facebook.
“While erring on the side of caution can be helpful on speech-related matters, consistently exhibiting a lack of understanding around language that has been used historically to demean marginalised groups is inexcusable,” the letter said.
“Luckily, given where Facebook is now, improvement is not that hard. Clamp down on common misinformation and conspiracies. Stop recommending hate.”